Apr 22, 2012 11:48 AM by Matt Stafford
NEW YORK (AP) - Wal-Mart says allegations it hushed up bribery by executives in Mexico are "not a reflection of who we are or what we stand for."
The New York Times reports a vast bribery campaign by top executives of its Mexican subsidiary was carried out to build stores across that country.
The newspaper reports that Wal-Mart failed to notify law enforcement officials even after its own investigators found evidence of millions of dollars in bribes. The newspaper said a report by its lead investigator concluded that Mexican and U.S. laws likely were violated.
Wal-Mart is Mexico's largest private employer.
A Wal-Mart spokesman says the company is "deeply concerned" and "working aggressively to determine what happened."
Wal-Mart says its latest, ongoing investigation is being handled by outside lawyers and accountants. The company also said it has tightened procedures and expanded training in Mexico.